General Dynamics Co. (NYSE:GD) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,677 shares of the aerospace company’s stock after acquiring an additional 109 shares during the period. Procyon Advisors LLC’s holdings in General Dynamics were worth $2,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics in the 3rd quarter valued at about $30,000. True Wealth Design LLC acquired a new position in General Dynamics in the third quarter valued at about $34,000. Finally, Coston McIsaac & Partners boosted its stake in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GD shares. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and reduced their price target for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Susquehanna cut their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird restated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $304.53.

General Dynamics Stock Down 0.7 %

Shares of General Dynamics stock opened at $266.86 on Friday. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The company has a 50 day moving average of $273.71 and a 200 day moving average of $288.32. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $73.38 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that General Dynamics Co. will post 13.81 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.